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Here’s how custodial accounts work.
A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds , central banks , insurance companies ), asset managers , banks and broker-dealers .
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A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]
Once an order is confirmed i.e. when buy/sell part gets its corresponding sell/buy part, the trade is forwarded to the settlement system. During the settlement the custodial participant has to confirm that the order placed by the trading member on behalf of his client is valid and that the trade can occur.
Working as a custodian and bus driver keeps days busy and motivated. In addition to being a head custodian, Smith also is a bus driver for the school and splits his time between the two while ...
[13] [14] [15] Since the 1980s, [16] First Nations and non-First Nations Australian academics have developed an understanding of a deeply rooted custodial obligation, or custodial ethic, that underpins Aboriginal Australian culture, and could offer significant benefits for sustainable land management and reconciliation in Australia. [17] [18] [19]
The Global Custodian is a trade publication covering the international securities services industry. GlobalCustodian.com refers to the website of Global Custodian magazine, which provides daily news and events coverage of the securities services industry, particularly custodian banks, but also including fund administration, securities financing/lending, prime brokerage, private equity ...
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